House price growth highest since March, says Halifax

13th January 2017

House price growth has hit its highest level since March, according to the Halifax house price index, as a lack of supply propped up the market since the EU referendum. On a monthly basis, the index showed prices increased by 1.7% last month, up from 0.6% in November, with the three-month average of year-on-year house price growth hitting 6.5% last month, up from 6%. The figures show that the average house now costs £222,484. Halifax's data showed Luton recorded the highest year-on-year growth, at 19.4%, followed by Barking and Dagenham in east London, where house prices increased 18.6% last year. Martin Ellis, Halifax's housing economist, has voiced a belief that 2017 will see "reduced housing demand" due to rising inflation and squeezed wages.

The Independent (09/01/2017)